Isabella Aldridge of Neat

Isabella Aldridge. Image supplied.

Interviews

Neat: “We Aim to Make Neat a Globally Recognized Name Synonymous With Quality, Convenience, and Innovation in Plant-Based Dining”

Plant-based fast food chain Neat Burger has recently announced a rebrand, dropping “Burger” from its name to become simply Neat. The change heralds a new era for the brand, which will now shift its focus towards fresher, healthier dishes in line with evolving consumer demands. Launched in 2019, Neat has four locations in London along with international locations in Milan and New York City. Following the opening of the NYC restaurant last year, Neat reported that sales had beaten expectations, and the company subsequently raised $18 million in Series B funding. Formula 1 driver Lewis Hamilton is a long-time backer, and the chain has also previously received investment from Leonardo DiCaprio. Isabella Aldridge, Head of Brand & Marketing at Neat, told us more about the …

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oatly organic

©Oatly

Politics & Law

Oatly Agrees to $9.25M Settlement Over Allegations of Overstated Environmental Claims

Swedish oat drink company Oatly has agreed to a $9.25 million settlement following allegations of greenwashing. The lawsuit, initiated by investor Kai Jochims in July 2021, claimed that Oatly’s promotional strategies had led to “artificial” inflation of its share prices by overstating product demand and environmental credentials. This settlement comes after a mediation session held in October, although it is still awaiting final court approval. The lawsuit against Oatly surfaced shortly after the company’s successful $1.4 billion initial public offering (IPO), when the trading price of the company’s US shares dipped approximately 9%. This decline was attributed to accusations from a short-seller, labeling Oatly’s environmental claims as misleading. The consolidated lawsuit encompassed various investor complaints, centralizing around allegations of financial misrepresentation and exaggerated environmental sustainability …

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Pamela Anderson joins vegan skincare brand Sonsie Skin

© Sonsie Skin

Cosmetics & Bodycare

Pamela Anderson Joins Vegan Skincare Brand Sonsie Skin as Owner & Co-Founder

Actress Pamela Anderson has acquired vegan skincare brand Sonsie Skin, and will now join the company as co-founder. Anderson is a longtime vegan, known for her animal rights activism and partnerships with vegan brands. Last year, she attracted attention by attending a fashion show without makeup, and has continued to make appearances barefaced ever since. She is now taking a new approach to beauty, focusing on skin health and self-acceptance rather than perfection. The aim is to inspire consumers who feel pressured by social norms to “embrace their most vulnerable self”. “To me, true beauty is about celebrating authenticity. I want to look like myself, feel like myself, and that means taking care of myself — inside and out,” said Anderson. Minimalist skincare Sonsie Skin …

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Hungry Planet crab cakes

© Hungry Planet

Sustainability / Environment

Hungry Planet Among 65 Global Plant-Based Organizations Nominated for Earthshot Prize

Hungry Planet Foods announces that it has officially been nominated for Prince William’s Earthshot Prize, a global initiative that seeks to discover, celebrate, and scale innovative solutions that address the planet’s biggest environmental challenges by 2030.  The company creates plant-based meat alternatives, such as beef, chicken, pork, and crab, using ingredients like textured wheat protein, soy protein, and other plant ingredients. Hungry Planet states that its products are now served at thousands of food service venues across the US, including fine dining, fast casual, universities, and hospitals, along with various retail outlets and online via PlantX. Through its philanthropic arm, the company has also helped provide over 1 million meals to school children K-12. The Earthshot Prize, established in 2020 by Prince William and The …

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chicken bouillon Lallemand

© Lallemand

Ingredients

Vegan Flavor Market Gains Momentum Driven by Health Awareness of Plant-Based Diets

There is a growing demand for vegan-friendly options in the world of flavors. According to a recent report by Fact.MR, the vegan flavor market is expected to reach $18,324.3 million by 2034, with a projected CAGR of 5.2% from 2024 to 2034. One of the key drivers of the growth is the increasing awareness of the health benefits associated with plant-based diets. Additionally, growing concerns about environmental sustainability and animal welfare are prompting consumers to opt for vegan products, boosting the demand for vegan flavors.  Interestingly, the increasing exposure to diverse global cuisines, which feature plant-based ingredients and flavors, also influences the market’s growth. North America and China In this scenario, the vegan flavor market in North America is expected to experience robust growth in the coming …

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IFF has invested in high-moisture extrusion (HME) technology systems to support manufacturers in creating fibrous plant-based whole cuts.

Image courtesy of IFF

Manufacturing & Technology

IFF Installs High-Moisture Extrusion Systems to Drive Innovation in Plant-Based Meat Market with Whole Cuts

Food and beverage leader IFF (NYSE: IFF) announces that it has invested in high-moisture extrusion (HME) technology systems to support manufacturers in creating fibrous, plant-based whole cuts. The newly acquired HME systems, designed and manufactured by the global leader in extrusion technology, Coperion, feature exact powder and liquid feeders, ensuring high-quality production and remarkable flexibility, explains IFF.  They have been installed and are already operational at the company’s innovation hubs across Europe, the USA, and Singapore. According to the company, this initiative is part of its continuous efforts to offer solutions and services to the plant-based meat and fish industry. “Consumer demand for plant-based products that offer an experience akin to eating meat is huge, and HME is one of the best ways to meet it. …

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Happy Cow vegan cities 2024

© Happy Cow

Studies & Numbers

HappyCow’s 2024 Top Vegan-Friendly Cities Unveiled

Vegan restaurant and business directory HappyCow releases its annual Top Vegan-Friendly Cities list for 2024. This year’s list is a mix of returning players and new entrants, highlighting some reshuffling due to global economic concerns, resulting in the closure of many restaurants in key cities. The report ranks cities based on a multi-faceted approach, considering not only the number of exclusively vegan restaurants but also the presence of vegan-friendly businesses, their density in each city, and year-over-year growth. Additional qualitative factors include the availability of vegan consumer products, public vegan awareness, and the strength of local vegan communities. Bartek Filipowicz, Head of HappyCow, celebrates the list as a testament to the worldwide progress in vegan cuisine. He notes, “We are thrilled to share HappyCow’s annual …

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A picture of a mobil phone showing

Image courtesy of Eatable Adventures

About vegconomist

Reintroducing vegconomist as We Enter a New Year of Vegan Business News

Many readers have only become aware of vegconomist in the last year or so. So, as we enter 2024 with reinvigorated stamina and focus for a fresh year of news, it’s time for a reintroduction that summarises our business magazine, who we are, our editorial focus, and some facts you may not know about us. Our magazine was launched around 5.5 years ago, established in Germany where the German language platform continues, and the English language platform began a few months later, back in 2018. We remain an independent online business publication with a focus on the vegan economy, cultured products, and precision fermentation. Things you may not know about vegconomist We are a female-majority company. The entire team at the Global version is female …

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Investments & Finance

2024 Predictions: Investing in Food System Transformation is Here

Here, Elysabeth Alfano and Dr. Sasha Goodman of VegTech Invest give their predictions for 2024. “I do believe that plant-based and alternative proteins are in the right place at the right time! 2023 was such an odd year, but we are seeing the light at the end of the tunnel, at least as it pertains to investing in food systems transformation,” says Elysabeth. Predictions from VegTech Invest Chief Investment Officer, Dr. Sasha Goodman Continued Surge in Health-Conscious Consumer Spending in Plant-based Foods: The Plant-based Innovation sector is poised for substantial revenue growth in 2024, fueled by an expanding health-conscious consumer base. This trend, as seen in companies like Dole plc with a 42.9% sales increase and Vita Coco and Ingredion Incorporated’s strong earnings, reflects a …

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The Body Shop announces that it has become the world's first global beauty brand to offer a fully vegan portfolio certified by The Vegan Society.

© The Body Shop

Cosmetics & Bodycare

The Body Shop Becomes First Global Beauty Brand with 100% Vegan Portfolio Certified by The Vegan Society

The Body Shop announces that it has become the world’s first global beauty brand to offer a fully vegan portfolio certified by The Vegan Society — a milestone in cruelty-free cosmetics and body care. Now, hundreds of the brand’s products, encompassing skincare, body care, hair care, makeup, and fragrance, have 100% vegan formulations and carry the Vegan Trademark (products with old and discontinued formulations will be available for sale until depleted).  To obtain the global gold standard certification on the entire portfolio, over 4000 raw materials, including their suppliers and manufacturers, had to undergo The Vegan Society’s meticulous assessment, explains the vegan beauty retailer. “We did it! Every single product formulation from The Body Shop is now certified by The Vegan Society. We know that vegan …

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Researchers have presented a study with guiding principles to help policymakers accelerate a transition — fair for all— to a more sustainable and healthy food system.

© Вячеслав Думчев-stock.adobe.com

Politics & Law

President of WHO Calls for Shift to Plant-Based Diet to “Protect and Promote the Health of Both the People and the Planet”

In a move to integrate food systems into climate action, the president of the World Health Organization (WHO), Dr. Tedros Adhanom Ghebreyesus, has called for a shift toward plant-based diets to tackle the global health and climate crises.  In a declaration at COP 28, Adhanom said that the current food system harms people’s health by contributing to over 30% of greenhouse gas emissions and global diseases, including malnutrition.  He emphasized that delivering plant-based diets could save up to eight million lives annually and made public the organization’s commitment to supporting countries in implementing policies to improve diets and mitigate climate change. “Together, we can protect and promote the health of both the people and the planet,” he said. Anti-beef strategy With this declaration, the WHO has …

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Darko Mandich, CEO Melibio

Darko Mandich ©Melibio

Opinion

Op Ed: Darko Mandich, CEO of MeliBio, Discusses the Dark Side of the Honey Industry

Darko Mandich, as many of our readers will know, is the CEO of MeliBio, the Californian pioneer of bee-free honey. Founded in 2020, MeliBio replaces honeybees with microorganisms to create an award-winning B2B solution for restaurants and food companies looking to offer a more ethical and sustainable alternative to honey made by bees. We reached out to Darko following some recent anti-vegan publicity in the mainstream media and after seeing some negative comments on LinkedIn. We felt MeliBio should have the chance to express its (and the bees’) side of the story. Here is what Darko had to say. Unveiling the Dark Side of Honey: Pollinator Gentrification Threatens Biodiversity By Darko Mandich, CEO of MeliBio In an era of increasing environmental awareness, the honey industry …

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FAO conducted a foresight exercise to explore and evaluate future safety issues of plant-based food products, precision fermentation, and 3D food printing.

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Studies & Numbers

Are Plant-Based, Precision Fermentation, and 3D Printed Products Less Safe to Eat than Conventional Foods?

A recent meeting for food safety assessment on New Food Sources and Production Systems (NFPS) organized by The Food and Agriculture Organization of the United Nations (FAO) conducted a foresight exercise to explore and evaluate future safety issues of plant-based, precision fermentation, and 3D printed food products. After the exercise and the evaluation of the current food safety standards, the meeting concluded that, in general, the food safety hazards of these NFPS are similar to those of conventional foods. However, they emphasize that new production and processing technologies can introduce unique conditions within a specific NFPS, requiring careful monitoring and consideration from a food safety standpoint. They also added that it was important always to consider the intended uses of final products when conducting safety assessments on …

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BioFluff plant-based fur

Supplied by BioFluff

Textiles

BioFluff Secures $2.5M in Seed Funding for Plant-Based Fur Alternatives

BioFluff, a biomaterials startup describing itself as the first fully plant-based fur alternative, has successfully closed its seed funding round, securing $2.5 million from leading venture capital firms, spearheaded by agrifood tech investor Astanor Ventures. Astanor Ventures has invested in over 45 agrifood companies globally, including plant-based businesses MicroHarvest, Wicked Kitchen, and Umiami. This funding marks a significant milestone for BioFluff, following a pre-seed round of $0.5 million in 2022, led by SOSV, PDS Limited & Joyance Partners. “We were impressed by the passion and determination of the founding team. Biofluff has a unique offering for the luxury industry, fashion, and textiles, which is in full alignment with the Astanor mission of a more regenerative economy,” stated Christina Ulardic, a partner at Astanor Ventures. BioFluff, …

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Vivici fermentation unit

© Vivici

Fermentation

Vivici Partners with Ginkgo Bioworks to Expand Portfolio of Sustainable Dairy Proteins

Vivici, a Dutch B2B ingredients startup utilizing precision fermentation, and Ginkgo Bioworks, a cell programming and biosecurity platform, have announced a strategic partnership to advance the production of sustainable animal-free dairy proteins. Focusing on meeting the increasing global demand for sustainable and appealing proteins, Vivici utilizes precision fermentation techniques to create animal-free dairy proteins with microorganisms. Ginkgo Bioworks is set to enhance the partnership with its protein production services and generative AI platform. The company’s strategic role involves creating a comprehensive library, where it will screen and cultivate top-performing strains and then deliver them to Vivici for final evaluation. Stephan van Sint Fiet, CEO at Vivici, commented, “We are thrilled to collaborate with Ginkgo. Ginkgo’s scale and AI-driven approach to designing strains for protein expression …

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Czech startup Bene Meat Technologies (BMT) has become the first company in the world to obtain EU Certification to produce and sell cultivated meat for pet food.

© Bene Meat Technologies (BMT)

Cultivated, Cell-Cultured & Biotechnology

Has Cultivated Meat for Pet Food Really Been Approved in EU? The Complicated Story of Bene Meat (and Others in the Space)

Two weeks ago, a press release was widely distributed by Czech startup Bene Meat Technologies, titled “Bene Meat Technologies is the first company in the world to be licensed to produce and sell cultured meat as dog and cat food” The release stated, ” On 7.11.2023, the Czech startup Bene Meat Technologies (BMT) won the world championship to produce and sell cultured meat for PET FOOD needs. With the certification obtained from the European Feed Materials Register, it becomes the only entity in the world that can produce and sell this product for PET FOOD needs.[…] Bene Meat Technologies is thus the first entity in the world to be authorised to produce and sell cultured meat for PET FOOD.”  This apparently groundbreaking news was covered …

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Josh Tetrick GOOD Meat

© GOOD Meat

People

TIME Magazine Recognizes Josh Tetrick, CEO of Eat Just, in 100 Most Influential Climate Leaders in Business for 2023

TIME Magazine has unveiled its list of the 100 Most Influential Climate Leaders in Business for 2023, recognizing individuals who have demonstrated substantial contributions to the fight against climate change. The selection process, conducted over several months by TIME’s editors and in-house climate experts, prioritized measurable achievements within the energy, nature, finance, culture, and health sectors. Among the listed figures is Josh Tetrick, CEO of Eat Just, credited as the first company to receive regulatory approval for lab-grown meat under the brand GOOD Meat. Eat Just is the only alt protein company represented on the list and one of the few recognized companies within the food and beverage category. In statements to TIME, Tetrick emphasized the pivotal role of the food system in addressing climate …

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Future Ocean Foods

© Future Ocean Foods

Meat- and Fish Alternatives

Debut of World’s First Alternative Seafood Association Signals a New Era for Fish-Free Fish & Health of Our Oceans

Future Ocean Foods debuts today as the world’s first alternative seafood association, dedicated to propelling the alt seafood industry into a new era. With an impressive list of inaugural memberships, the alliance already has 36 companies on board, spanning 14 countries. 40% of its members are women founders, and this percentage is set to increase. We spoke with Future Ocean Foods’ founder and Executive Director, Marissa Bronfman, who described the association’s goal to bring together global initiatives united in a shared purpose to create sustainable, healthy seafood alternatives that support ocean conversation and address current challenges in food security. The association’s focus is to foster collaboration and knowledge-sharing with members spanning the sectors of plant-based seafood, fermentation, and cultivated food tech.  A future where seafood …

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Dr Helena Wright and Dr. Henning Stein

Dr Helena Wright and Dr. Henning Stein, image supplied

Opinion

Op Ed: Dr Henning Stein & Dr Helena Wright Explain Why Investors Should Be Hungry for the Next Food Revolution

Dr Helena Wright is Policy Director of FAIRR, a global investor network that raises awareness of the environmental, social and governance risks associated with intensive food production. Dr. Henning Stein is a Board Member at 1Businessworld, a global business ecosystem, network and marketplace. He has over 25 years of experience across asset management, pension funds, platforms, insurance and academia. Together they here put forward the case for not just a Green Revolution but an Ever-Green Revolution. Examining the Case for an Ever-Green Revolution By Dr Henning Stein & Dr Helena Wright “There are no solutions,” economist and social commentator Thomas Sowell famously remarked. “There are only trade-offs. You try to get the best trade-off you can get. That’s all you can hope for.” Particularly in …

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The Good Food Institute has released two white papers that explore the potential of alternative seafood.

© The Good Food Institute

Studies & Numbers

New GFI Alt Seafood Reports: Meeting the Global Demand for Seafood Without Depleting the Oceans

The Good Food Institute (GFI) has released two white papers that delve into the potential of alternative seafood to meet the increasing global seafood demand while achieving the world’s climate and biodiversity goals.  With seafood production projected to grow by 14% from 2020 to 2030, traditional fishing and aquaculture will impact the oceans and the environment severely, threatening biodiversity and marine habitats, argues GFI. However, plant-based and cultivated seafood have the potential to mitigate GHG emissions and also address other global challenges, such as biodiversity loss, nutrition, public health, and food security. GFI’s new research reports shed light on how policymakers, researchers, and ocean advocates can advance alternative seafood. Building climate policy momentum for alternative seafood This white paper explores how plant-based and cultivated seafood …

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